Taubman Centers (NYSE:TCO) – Equities research analysts at Jefferies Group lowered their FY2018 earnings per share (EPS) estimates for Taubman Centers in a research note issued to investors on Thursday, April 12th. Jefferies Group analyst O. Okusanya now expects that the real estate investment trust will post earnings of $3.76 per share for the year, down from their previous forecast of $3.77. Jefferies Group also issued estimates for Taubman Centers’ FY2019 earnings at $3.95 EPS.

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Taubman Centers (NYSE:TCO) last released its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.01. The business had revenue of $172.18 million during the quarter, compared to analysts’ expectations of $164.26 million. Taubman Centers had a net margin of 11.63% and a negative return on equity of 57.04%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.01 EPS.

Several other research firms have also recently issued reports on TCO. Zacks Investment Research cut shares of Taubman Centers from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. BMO Capital Markets reaffirmed a “hold” rating and set a $62.00 price objective on shares of Taubman Centers in a research report on Tuesday, January 9th. Mizuho set a $63.00 price target on shares of Taubman Centers and gave the stock a “hold” rating in a research note on Friday, February 16th. Boenning Scattergood reiterated a “hold” rating on shares of Taubman Centers in a research note on Monday, February 12th. Finally, Sandler O’Neill set a $63.00 price target on shares of Taubman Centers and gave the stock a “hold” rating in a research note on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the stock. Taubman Centers presently has an average rating of “Hold” and a consensus price target of $63.22.

Taubman Centers stock opened at $57.48 on Monday. The firm has a market cap of $3,479.15, a PE ratio of 15.54, a PEG ratio of 3.40 and a beta of 0.54. Taubman Centers has a 12-month low of $44.78 and a 12-month high of $67.19. The company has a debt-to-equity ratio of -23.70, a current ratio of 0.40 and a quick ratio of 0.40.

The business also recently declared a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Thursday, March 15th were paid a dividend of $0.655 per share. This is a positive change from Taubman Centers’s previous quarterly dividend of $0.63. This represents a $2.62 annualized dividend and a yield of 4.56%. The ex-dividend date was Wednesday, March 14th. Taubman Centers’s dividend payout ratio (DPR) is currently 70.81%.

In related news, Director Craig M. Hatkoff sold 1,350 shares of Taubman Centers stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $58.62, for a total transaction of $79,137.00. Following the sale, the director now directly owns 6,013 shares in the company, valued at approximately $352,482.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 31.20% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in the stock. Daiwa Securities Group Inc. raised its stake in Taubman Centers by 15.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 6,800 shares of the real estate investment trust’s stock worth $445,000 after acquiring an additional 900 shares in the last quarter. Asset Management One Co. Ltd. increased its stake in Taubman Centers by 1.1% in the third quarter. Asset Management One Co. Ltd. now owns 131,663 shares of the real estate investment trust’s stock valued at $6,615,000 after purchasing an additional 1,458 shares during the period. American International Group Inc. increased its stake in Taubman Centers by 1.2% in the fourth quarter. American International Group Inc. now owns 125,665 shares of the real estate investment trust’s stock valued at $8,222,000 after purchasing an additional 1,473 shares during the period. Meadow Creek Investment Management LLC increased its stake in Taubman Centers by 26.1% in the fourth quarter. Meadow Creek Investment Management LLC now owns 8,058 shares of the real estate investment trust’s stock valued at $527,000 after purchasing an additional 1,666 shares during the period. Finally, California Public Employees Retirement System increased its stake in Taubman Centers by 1.1% in the fourth quarter. California Public Employees Retirement System now owns 156,044 shares of the real estate investment trust’s stock valued at $10,210,000 after purchasing an additional 1,767 shares during the period.

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About Taubman Centers

Taubman Centers is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of 27 regional, super-regional and outlet shopping centers in the U.S. and Asia. Taubman's U.S.-owned properties are the most productive in the publicly held U.S. regional mall industry.

Earnings History and Estimates for Taubman Centers (NYSE:TCO)

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